Creekmur Asset Management LLC Sells 3,800 Shares of Gladstone Investment Co. (NASDAQ:GAIN)

Creekmur Asset Management LLC lessened its holdings in Gladstone Investment Co. (NASDAQ:GAIN) by 51.3% in the 1st quarter, HoldingsChannel.com reports. The firm owned 3,603 shares of the investment management company’s stock after selling 3,800 shares during the quarter. Creekmur Asset Management LLC’s holdings in Gladstone Investment were worth $51,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in GAIN. Melia Wealth LLC acquired a new stake in shares of Gladstone Investment during the first quarter worth approximately $13,455,000. Van ECK Associates Corp boosted its stake in Gladstone Investment by 13.9% in the first quarter. Van ECK Associates Corp now owns 704,351 shares of the investment management company’s stock valued at $10,023,000 after acquiring an additional 85,791 shares during the last quarter. Advisors Asset Management Inc. boosted its stake in Gladstone Investment by 6.6% in the first quarter. Advisors Asset Management Inc. now owns 162,487 shares of the investment management company’s stock valued at $2,312,000 after acquiring an additional 10,018 shares during the last quarter. International Assets Investment Management LLC bought a new position in Gladstone Investment in the fourth quarter valued at approximately $2,040,000. Finally, Legacy Capital Wealth Partners LLC boosted its stake in Gladstone Investment by 5.2% in the fourth quarter. Legacy Capital Wealth Partners LLC now owns 102,491 shares of the investment management company’s stock valued at $1,450,000 after acquiring an additional 5,047 shares during the last quarter. Institutional investors and hedge funds own 11.85% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. LADENBURG THALM/SH SH reaffirmed a “neutral” rating and issued a $14.00 price objective on shares of Gladstone Investment in a research note on Thursday, May 9th. B. Riley reaffirmed a “neutral” rating and issued a $14.00 price objective (up from $13.50) on shares of Gladstone Investment in a research report on Friday, May 10th.

Gladstone Investment Price Performance

GAIN stock traded down $0.07 during midday trading on Thursday, hitting $13.95. The company’s stock had a trading volume of 70,559 shares, compared to its average volume of 135,351. Gladstone Investment Co. has a twelve month low of $12.14 and a twelve month high of $14.96. The company’s fifty day moving average price is $14.02 and its 200 day moving average price is $14.08. The stock has a market capitalization of $511.83 million, a P/E ratio of 5.61 and a beta of 1.32.

Gladstone Investment (NASDAQ:GAIN) last released its quarterly earnings data on Wednesday, May 8th. The investment management company reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.02). The firm had revenue of $23.65 million for the quarter, compared to analyst estimates of $22.94 million. Gladstone Investment had a return on equity of 7.33% and a net margin of 97.71%. Equities analysts expect that Gladstone Investment Co. will post 1.01 EPS for the current fiscal year.

Gladstone Investment Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 20th will be issued a dividend of $0.08 per share. This represents a $0.96 annualized dividend and a dividend yield of 6.88%. The ex-dividend date of this dividend is Friday, September 20th. Gladstone Investment’s payout ratio is 38.71%.

About Gladstone Investment

Gladstone Investment Corporation is business development company, specializes in lower middle market, mature stage, buyouts; refinancing existing debt; senior debt securities such as senior loans, senior term loans, lines of credit, and senior notes; senior subordinated debt securities such as senior subordinated loans and senior subordinated notes; junior subordinated debt securities such as subordinated notes and mezzanine loans; limited liability company interests, and warrants or options.